Carey, chief operating officer of News Corp., received a compensation package of $27 million, a 9% increase from the previous year. Carey was lauded for his handling of the media company's breakup and spinoff of the publishing properties.

Carey, chief operating officer of News Corp., received a compensation package of $27 million, a 9% increase from the previous year. Carey was lauded for his handling of the media company's breakup and spinoff of the publishing properties. (Andrew Harrer / Bloomberg)

"The challenges that still remained to be overcome, in addition to the slow pace of progress, created a level of uncertainty detrimental to the interests of both groups and their employees, clients and shareholders," Maurice Levy, chief executive of Publicis Groupe, and John Wren, chief executive of the Omnicom Group, said in a joint statement.

"We have thus jointly decided to proceed along our independent paths," the two men said.

The proposed merger was intended to create an ad goliath with enormous clout when negotiating advertising rates and placements with television networks and Internet companies.

Winning the box-office derby on its opening weekend was a foregone conclusion for “Mission: Impossible — Rogue Nation,” leaving only the question of just how formidable a draw the latest installment in the Tom Cruise-led thriller franchise would be.

After receiving a Donkey Kong-style pounding from critics, "Pixels," the '80s video-game themed comedy starring Adam Sandler, was edged out at the box office on its opening weekend, failing to take the No. 1 spot from "Ant-Man," which earned an estimated $24.8 million.